Sodium Tripolyphosphate Market, Driven by Industry Analysis, Growth, Size, COVID-19 Overview, Opportunities, Share, Companies Strategy & Prediction – 2030

Sodium Tripolyphosphate Market Overview 

Sodium Tripolyphosphate can be defined as a crystalline powder that finds significant application as a cleaning material. It can be labeled as a salt of triphosphoric acid generally that finds traction from industries involved in water softening and food preservation. It can be sourced both in unhydrous and hexahydrate forms. Commercially, Sodium Trypolyphosphate has a wide-scale percolation in textile industry for dyeing and in food & beverage industry as a major component for food preservation. In 2016, the Sodium Tripolyphosphate Market was valued at USD 2,250.7 million and by 2030, it is projected to reach USD 2,497.7 million which gave an estimation of growing at a CAGR of 1.5% in the said forecast period.

The growth has been sluggish for the Sodium Tripolyphosphate Market as several restraining factors like bans from the governments, plummeting application in the detergent industry, and others. The substance has been banned in the European Union for several industries. The same is true with the North American market where countries like the US and Canada are becoming obstacle for the market.

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Key Players

The major market players in the market are

• Haifa Group
• Grasim Industries Ltd.
• Hubei Xingfa Chemicals Group Co. Ltd.
• Innophos Holdings Inc.
• Israel Chemicals Ltd.
• Merck KgaA
• Prayon Group
• Sumitomo Chemicals Co. Ltd.
• Tata Chemicals Ltd.
• Thermo Fisher Scientific Inc.

Sodium Tripolyphosphate Market Segmentation

The market for Sodium Tripolyphosphate has been segmented in the report on the basis of application and end use. MRFR’s attempt to get close to the market has revealed insights that can be used to understand significant growth patterns and trigger business proliferation in the coming years.

By application, the market for Sodium Tripolyphosphate can be segmented into detergent, water treatment, cleaning agents, paints & dying, food preservative, metal treatment, ceramic tiles, and others. In 2016, the detergent segment had the maximum market share that was close to 26% and its dominance is expected to continue in the coming years as well. The market has the potential to grow with As of 2016, detergent as the most promising application segment by accounting 26% shares and it is anticipated to continue to project a growth rate of 1.40% during the forecast period.

By end user, the market can be segmented into food & beverages, household cleaning, textile, agriculture, cosmetics, pharmaceuticals, and others. The household cleaning segment is providing maximum traction to the market by covering almost 27% of the market.

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Regional Classification

The region-specific understanding of the global market for Sodium Tripolyphosphate Market includes North America, Europe, and Asia Pacific as major contributors and   Latin America, and the Middle East & Africa as regions with potentials. In 2016, Asia Pacific region had a market share of 46% where China was considered as the major market contributor. The region is scoring well both in terms of production and export capacity. In 2016, China had a market valuation of around USD 518.8 million and the market is expected to soar with a 1.69?GR during the forecast period. China is a major exporter of Sodium Tripolyphosphate, however, recent bans in the region would bog down the growth to some extent.

North America had the second largest market in 2016 and it has a market coverage of around 25%. Due to its wide-scale use in detergent, the region has made some stringent regulations owing to which the growth would be curtailed. The same is true for the European region where the growth would find restricted traction in the coming years.

Recent Development

The major development seen during this period was in January 2020, one of the major leaders in the market Innophos Holdings Inc. has signed the agreement with One Rock Capital Partners, LLC and this acquisition of the approved ingredient firm gave outstanding shares to the market growth that were worth $32 per share and the approximate value was $930million debts.

In the agricultural sector, Sodium tripolyphosphate has gained popularity as it is a restrainer for harmful bacteria and microorganism growth.

In water treatment, the growth of sodium tripolyphosphate usage has been a trigger to the market. The encouragement was due to the factors that it maintained pH and vital for the water hardness and softness are maintained that boosted the laundry industry.

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Table of Content

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat Of New Entrants

4.1.2 Bargaining Power Of Buyers

4.1.3 Threat Of Substitutes

4.1.4 Segment Rivalry

4.2 Value Chain/Supply Chain Of Global Sodium Tripolyphosphate Market

5 Industry Overview Of Global Sodium Tripolyphosphate Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact Analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact Analysis

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